Tower Research Capital LLC TRC Purchases 1,085 Shares of Southern States Bancshares, Inc. (NASDAQ:SSBK)

Tower Research Capital LLC TRC raised its stake in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 141.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,851 shares of the company’s stock after purchasing an additional 1,085 shares during the period. Tower Research Capital LLC TRC’s holdings in Southern States Bancshares were worth $54,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SSBK. Bank of New York Mellon Corp boosted its holdings in Southern States Bancshares by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 28,669 shares of the company’s stock valued at $648,000 after purchasing an additional 713 shares during the period. Concourse Financial Group Securities Inc. raised its stake in shares of Southern States Bancshares by 133.4% in the 3rd quarter. Concourse Financial Group Securities Inc. now owns 1,788 shares of the company’s stock valued at $40,000 after buying an additional 1,022 shares in the last quarter. Kennedy Capital Management LLC raised its stake in shares of Southern States Bancshares by 2.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 23,547 shares of the company’s stock valued at $532,000 after buying an additional 554 shares in the last quarter. OneAscent Wealth Management LLC acquired a new position in shares of Southern States Bancshares in the 4th quarter valued at $225,000. Finally, SG Americas Securities LLC acquired a new position in shares of Southern States Bancshares in the 4th quarter valued at $121,000. 58.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded shares of Southern States Bancshares from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $32.00 to $35.00 in a research note on Friday, March 15th.

Southern States Bancshares Price Performance

Shares of SSBK stock traded down $1.08 during mid-day trading on Tuesday, reaching $24.17. The company’s stock had a trading volume of 21,771 shares, compared to its average volume of 13,554. Southern States Bancshares, Inc. has a 1-year low of $19.61 and a 1-year high of $30.74. The company has a market cap of $214.63 million, a P/E ratio of 6.71 and a beta of 0.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50-day moving average is $24.84 and its two-hundred day moving average is $25.58.

Southern States Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Friday, May 3rd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, May 2nd. Southern States Bancshares’s dividend payout ratio (DPR) is currently 10.00%.

About Southern States Bancshares

Southern States Bancshares, Inc operates as the bank holding company for Southern States Bank that provides community banking services to businesses and individuals. The company provides various deposit products, such as savings, money market, and noninterest-bearing demand accounts; certificates of deposit; and time deposits.